Stephen J. Choi

TL;DR: In this article, the pari passu clause, a standard provision in sovereign debt contracts that almost no one seems to understand, was studied and the question of what interpretive strategy courts should use when parties exploit these variations, persuading a court to adopt an interpretation of the grey hole term that (a) surprises the market that previously had disregarded the term and (b) results in an interpretation that the market disavows.

TL;DR: This paper studied the effect of campaign contributions to lead plaintiffs on the level of attorney fees in securities class actions and found that state pension funds generally pay lower attorney fees when they serve as lead plaintiffs than do individual investors serving in that capacity.

TL;DR: In this article, the authors evaluate the predictive power of various measures of judicial ability, ranging from the college and law school a judge attended to the rate at which her decisions are cited by other judges.

TL;DR: In this paper, the authors report the results from an empirical study of SEC enforcement actions against non-financial public companies to assess the impact of the Dodd Frank Act on the balance between SEC civil court and administrative enforcement actions.

TL;DR: The role of attorneys as arbitrators in securities arbitration, using a dataset of 422 randomly selected arbitrators and their 6724 arbitration awards from 1992 to 2006, was studied in this article.